Deadlines approach for $100K, $500K co-investment opportunities for MO startups
October 12, 2017 | Meghan LeVota
It’s easy to form an idea. It’s more difficult to take it to market.
The Missouri Tech Corporation’s IDEA Funds seek to facilitate the commercialization process for high-tech Missouri technologies, via a variety of co-investment opportunities.
The IDEA Funds divide financing into four components that correspond to four stages of growth for entrepreneurs, from pre-investment to high-growth enterprises. For the Missouri TechLaunch and Seed Capital Co-Investment Program, applications are now open, with a Nov. 15 deadline.
The Venture Capital Co-Investment Program and the High-Tech Industrial Expansion Program are not taking applications in November.
MTC’s future is uncertain. The agency’s budget was cut substantially from nearly $23 million in 2017 to $3.4 million in spending authority for 2018.
More recently, Missouri Gov. Eric Greitens’ office released a report suggesting MTC existing programming be replaced with a privately-managed innovation fund.
Here’s more about the funding opportunities:
MTC will award pre-seed funding — no more than $100,000 per individual award — to Missouri startups that are committed to a discovery in one of the following high-tech industry clusters: animal health, plant science, biomedical science, applied engineering, or defense and homeland security.
Startups must have less than 500 employees and will be evaluated on their market potential, proof of concept and intellectual property development. Applicants must also be in partnership with a Missouri research university or inst ution, or be willing to establish one. For more information about the opportunity, click here.
Seed Capital Co-Investment Program
High-tech startups that have succeeded in proving concept, but need access to seed capital might be eligible for the Seed Capital Co-Investment program.
With a maximum funding amount of $500,000 per individual, this grant is designed to accelerate private investment in Missouri companies who are looking to conduct competitive analysis, advanced prototype design and other advancements of intellectual property development.
Eligible applicants must have a committed leadership team, a third-party investment commitment and a viable plan. To apply, click here.
Featured Business
2017 Startups to Watch
stats here
Related Posts on Startland News
Students struck by KC gun violence search for solutions at MECA Challenge
Editor’s note: MECA Challenge and Startland News are both programs of the Kansas City Startup Foundation, though the content below was produced independently by Startland. For more information on the relationship, click here. Escaping the cycle of gun violence can seem impossible, said Lea Thompson, still wearing a cast on her hand after being shot…
STEAM Studio team coding best fit for boy’s 3-D-printed prosthetic arm
Four-year-old Hudson Borton extended his arm Wednesday, as his father fitted a 3-D-printed prosthetic to the boy’s upper arm and elbow. The light blue plastic piece mimicked the size and length of Hudson’s right arm, though his father and Mandi Sonnenberg, co-founder and director of STEAM Studio, agreed the new device wasn’t yet a perfect…
KC-based SouveNEAR vending machine startup prepping to scale up
SouveNEAR offers travelers a piece of KC — from KC, said co-founder Tiffany King. The Kansas City-based startup, which repurposes vending machines to sell locally made souvenirs, is in its fourth year of steady, organic growth, King said. As a member of ScaleUP! KC new class, SouveNEAR is preparing to grow the business and turn…
Google, Techstars partner to lower barriers for March 23-25 Startup Weekend
A new partnership with Google will allow Techstars to present this month’s Startup Weekend free of charge to Kansas City participants, said John Coler. “It opens up the opportunity to reduce the barrier for entry for those who either would not usually use their discretionary income or (do not) have the ability to pay for…